Super Australia - Everything you need to know about Austalian Superannuation...Go to the bottom of this page to grab an outstanding Free Offer for Super Australia For Australians wishing to save for retirement Super is normally seen as the first port of call. Since the Federal Government introduced compulsory payments in the 1980s Australians have seen this as their main source of income in retirement. The Government promotes a "three column" approach. That is the Federal Government expects people to have three sources of income for their retirement. These are 1. Their own savings and investments 2. Their own Super Annuation 3. The government or state pension Mainly Australians have not saved enough into their current retirement funds to allow the government to be happy that there will be enough to go around in future. Along with a lot of western government the Australia government is warming people up to the idea that they may have to work past the normal age of retirement, 65, to a later age, 70. ++++++++++++++++++++++++++++++++++++ Side Note. To learn how to take control of your own money in super I recommend The step by step Manual for Australian Super this pack outlines how to get hold of your money and then how to get it working for you. +++++++++++++++++++++++++++++++++++++++++ Cont'd This has come about because of a number of factors, but the biggest two by far are the bubble of "Baby Boomers" who are moving through the 40 to 65-age bracket and starting to retire. And second, is the fact that people are living a lot longer than at any time in history. These two facts taken together along with the economic factors and demands of today’s retirees have the governments of the day in a real panic. Currently the Government has enforced a 9% levy on employers to pay to an employees fund. However a lot of research suggests that although this may be OK for a worker entering the work force now, who will work for 40 years, which is not what most youngsters do these days, this is far to little and far too late for most Australians. Facts show that the average amount saved in super is around $29,000 for a standard fund and $39,000 for a Government fund. The main exception to these statistics is the people who have set up there own DIY Funds, either a Self Managed Super fund or a Small APRA Fund. The average in these fund per person are around $230,000. Source APRA June report 2002. Recently in a move said by many to be putting Dracula in charge of the blood bank the Federal Government gave over the job of overlooking all the Super Funds in Australia, except Small APRA Funds, to the Australian Tax Office. If you did not know the current Government Pension is just above $15,000 for a couple. That and the lastest survey which says that the average Australain household spends over $4,000 a year on booze shows you just what you have to look forward to if you are not doing something yourself. To help people who are looking to set up their own funds I set up an agreement with Advance Investment Services. Who offer a Free Initial Consultation, just pop your details in the form below and they will contact you to arrange an appiontment at your convience. We have set this up because what stops most people from doing anything is just getting going in the first place Advance Investment Services will help you get over this first hurdle.
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